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PenFed PLOC

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Grim87
Valued Member

PenFed PLOC

Hello! I currently have a 20k personal loan with PenFed. I understand they limit members to 25k for personal loans at once. 

I am moving my checking there and would like a PLOC. Is that treated in the same bucket as a personal loan? So all I could get is another 5k, or do PLOC have their own ceiling for members? I think I have to identify in the app how much I want. Don't want to ask for too much and burn an inquiry. 

 

Thanks all!

Message 1 of 6
5 REPLIES 5
K-in-Boston
Credit Mentor

Re: PenFed PLOC

Installment loans such as a personal loan, mortgage, student loan, auto loan, etc. are not the same as a PLOC, which is a revolving line of credit similar to a credit card.

Message 2 of 6
UpperNwGuy
Valued Contributor

Re: PenFed PLOC

I would call PenFed and ask them.

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Message 3 of 6
Grim87
Valued Member

Re: PenFed PLOC

Perfect, I wonder if they use FICO 9 bank card for that pull. 

Message 4 of 6
K-in-Boston
Credit Mentor

Re: PenFed PLOC


@Grim87 wrote:

Perfect, I wonder if they use FICO 9 bank card for that pull. 


I don't believe PenFed uses FICO 9 BE for any purposes.  Plain vanilla FICO 9 is used for account reviews and I believe that's what they are primarily using now, but I haven't actually applied for anything from PenFed since they started using FICO 9 a few years ago.

Message 5 of 6
M_Smart007
Legendary Contributor

Re: PenFed PLOC

I am pretty sure it is just plain jane FICO 9

Message 6 of 6
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